FAO forecasts the lowest in 3 years the production of grain

FAO Experts in the August report has increased the forecast of world grain production by 1.2 million tonnes to 2,587 billion tons, which is 2.4% or 64.5 million tonnes inferior record harvest last year and will be the lowest in last 3 years indicator.

compared To the July balance forecast global wheat production in 2018 decreased by 1.9% or 14 million tonnes to 772 million tonnes, which will be the lowest since the 2013 index.

the Downward adjustments due to dry weather in the EU, which has significantly deteriorated the yield. So, for the Scandinavia forecast of production reduced by 6%, or 9 million tonnes to 138 million tonnes, which is the worst figure since 2012.

Through adverse weather conditions reduced production estimates for Australia, China and Russia, while the U.S. and Argentina crop forecasts increased.

the Estimate of world production of coarse grains compared to the July report increased 1.1%, or 15 million tonnes to 1,354 billion tons, which is 2.6% or by 36.4 million tons lower than the level of last year.

Increased due to favorable weather forecasts for the corn harvest in Ukraine, the US and China will be able to offset the decline in production forecasts for the EU and Russia, where gross yield decrease due to water deficit.